10 Mar, 2022, 11:15 ET
DUBLIN, March 10, 2022 /PRNewswire/ -- The "Footwear - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Footwear Market to Reach $440 Billion by 2026
The global market for Footwear estimated at US$384.2 Billion in the year 2020, is projected to reach a revised size of US$440 Billion by 2026, growing at a CAGR of 2.3% over the analysis period.
Casual Footwear, one of the segments analyzed in the report, is projected to grow at a 2.6% CAGR to reach US$213.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Athletic Footwear segment is readjusted to a revised 1.9% CAGR for the next 7-year period. This segment currently accounts for a 37.6% share of the global Footwear market.
China, India, Brazil, Italy, Vietnam, Indonesia, Mexico, Thailand, Turkey and Spain are the leading producers of footwear, while USA, Japan, Germany, UK, France and Italy are the major consumers and importers of footwear. Korean and Taiwanese footwear makers are the forgotten lot who once dominated the global production scene.
The U.S. Market is Estimated at $105.8 Billion in 2021, While China is Forecast to Reach $80.9 billion by 2026
The Footwear market in the U.S. is estimated at US$105.8 Billion in the year 2021. The country currently accounts for a 27.14% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$80.9 Billion in the year 2026 trailing a CAGR of 3.6% through the analysis period.
Apart from being a lucrative market for non-athletic footwear, China is also emerging to be a strong market for athletic footwear mainly due to regulatory initiatives relating to fitness and national exercise programs, rapid pace of urbanization, increasing per-capita incomes, international sporting events organized in the country, and increasing participation in recreational sports, among other factors.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.5% and 1.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR while Rest of European market (as defined in the study) will reach US$83.8 Billion by the end of the analysis period.
Growth in these regional markets has and continues to be supported by footwear increasingly being considered a fashion accessory by many, and also due to robust demand for innovative and novel footwear. Rising adoption of comfortable and trendy footwear among consumers in various age groups is also driving demand in these markets.
Rising interest and participation in various sports and also transforming lifestyles are spurring adoption of athletic footwear, even among people who are not sports oriented. In recent years, interest in fitness and health related activities has been on the rise among customers. This is spurring demand for innovative and technically advanced sportswear products. Several international brands have been integrating sportswear and fashion wear to attract customers.
Outdoor/Rugged Footwear Segment to Reach $27 Billion by 2026
Outdoor/Rugged footwear is specially designed for high-performance outdoor activity such as trekking; trail running, kayaking, mountaineering, rock-climbing and others. They incorporate high-quality materials to combat extreme climates and suit various traction requirements, unlike everyday outdoor casual wear shoes. In the global Outdoor/Rugged segment, USA, Canada, Japan, China and Europe will drive the 2.6% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$17.4 Billion in the year 2020 will reach a projected size of US$20.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.4 Billion by the year 2026, while Latin America will expand at a 2.8% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- An Introduction to Footwear Market
- Footwear: Current Market Scenario and Outlook
- While Developed Regions Remain Primary Revenue Contributors, Developing Regions Emerge as Fast Growing Markets
- China Remains the Largest Production Base
- Proximity Playing a Key Role for Setting-Up Manufacturing Operations
- Socio-Economic & Demographic Trends Favor Growth
- Stable Economy
- Urbanization: A Megatrend with Significant Implications for Footwear Market
- Growing Affluence of Expanding Middle Class Population
- Rising Living Standards & Changing Lifestyle Trends
- Competitive Landscape
- Footwear Market: Characterized by Intense Competition
- Athletic Footwear Segment
- Nike: Going Strong
- adidas: The Closest Competitor
- Puma Remains in the Race
- Casual Footwear Market
- Outsourcing: Key Business Strategy for Leading Footwear Brands
- Companies Eye Other Outsourcing Destinations beyond China
- Pricing: Key Parameter in Competition
- Cross Industry Forays Rife, Elevating Competition Levels
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 470 Featured)
- adidas AG
- Reebok International Limited
- ANTA Sports Products Limited
- ASICS Corporation
- Bata India Ltd.
- Deckers Brands
- ECCO Sko A/S
- Feng Tay Enterprises Co., Ltd.
- Geox s.p.a
- Gucci Group NV
- Kenneth Cole Productions, Inc.
- LaCrosse Footwear, Inc.
- Nike Inc.
- Nine West
- Power Athletics Limited
- Puma SE
- RG Barry Corporation
- Timberland LLC
- Vans, Inc.
- Weyco Group Inc.
- Wolverine World Wide, Inc.
3. MARKET TRENDS & DRIVERS
- Scanning the Athletic Footwear Trends
- Demand for Athletic Shoes Surges
- Fashion-Statements Override Brand Aspirations
- Athletic Footwear: A Gift for All Occasions
- Rising Demand for Sneakers
- Riding High on Basketball
- Running Shoes - Leader amongst the Athletic Footwear Category
- Female Footwear - An Aggressive Growth Segment
- Tennis Shoes Draw Attention
- Trekking Shoes - Going on an Uphill Journey
- Cross Trainers - Increasingly Designed for Outdoor Wear
- Skating Shoes Market: An Insight
- Short Lead Times Spell Success in a Dynamic Market
- Efforts to Boost Demand
- Competition from Designer Brands
- Licensing Needs a Shot in the Arm
- Growing Sophistication of Manufacturing Technologies
- Online Sales Pick up Pace
- Shifting Brand Loyalty - A Major Concern!
- Non-Athletic Footwear: Noteworthy Trends
- Eco-Friendly Footwear: Future Directions
- Emergence of New Design Themes
- Moving in Line with Changing Fashion Trends
- Men's Shoes - Making a Style Statement
- Changing Customer Preferences
- Fashion and Comfort: Top on Women's Shopping List
- Multifunctional Shoes Gain Popularity
- Innovations in Footwear Components
- Affordable Luxury - Not just an Oxymoron in Footwear Space
- Luxury Footwear Designers Gain Traction
- Increasing Popularity of Private Labels
- Outdoor Footwear Gets Diversified
- Safety Shoes - A Review
- Innovations in Footwear Industry
- Technological Advancements in the Footwear Industry
- Futuristic Innovative Trends
- Innovative 3D Printing Technology Forays into Footwear Industry
- Smart Shoes to Transform Footwear Industry
- Major Sneakers Innovations in Shoe Industry
- Select Shoe Innovations by Popular Brands
- Consumer Insights
- Consumerism in the 21st Century
- Branding - What the Consumer Looks for
- Female Footwear Market
- The Replacement Issue
- Teenagers - A Key Segment
- Kids - The Retailers' New Favorites
- Baby Boomers - Changing Priorities
- Retail Environment
- Retailers under Pressure
- Small Shops - The Most Favored Targets
- Shelf Presence
- 'Space Lifting' Footwear Retailing
- E- Commerce: Evolving as a Vibrant Medium
- 'Proactive' Merchandising In-Store Garners Momentum
- Point-of-Sale Data: Understanding the Needs of the Consumer
- Huge Discounting
- Co-Branding: Crucial for the Success of P-O-P Displays?
- Manufacturers Evolving too
- Athletic Footwear
- Outdoor/Rugged Footwear
- Casual Footwear
- Dress/Formal Footwear
- Footwear Accessories
- Select Glossary of Footwear Terminology
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/al03f3
Research and Markets
Laura Wood, Senior Manager
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